Gold Miners

We had a pre-market update showing some nice, neat buy areas for both GDX and GDXJ. They make sense from what has been a short-term bearish perspective (they are lower than current levels) and a long-term bullish looking setup. We’re talking technicals here, because the funda are a mess. But you know these markets; that can change in a nano.

Anyway, another thing about the miners is that they bottom at different times so the ETFs are just a general guide. Today I bought back two of my former holdings to play a role in a balanced portfolio as the sector probes out its coming low, either sooner or later. Here’s one of them, NGD, probing lateral support and the daily SMA 200. We’ll see.

ngd

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